An agreement was reached on privatization of state share in the authorized capital of Boysunkumir LLC
2025-12-29 15:30:00 / News
As previously reported, in accordance with the relevant privatization programs, UzSAMA conducted an open sales process for 100% state share in "Boysunkumir" LLC (hereinafter - Asset) with the involvement of the consulting company "Alkes Research" LLC as a privatization consultant.
As part of the privatization process, the Consultant conducted a large-scale marketing and promotional campaign, in particular, investment teasers were sent to various investors. As a result, Expression of Interest applications were received from 4 investors. All applicants meeting the criteria previously established at this stage were invited by the Consultant to participate in the next stage of the privatization process - submission of Binding Offers (BO).
Within the framework of this stage, a Non-Disclosure Agreement (NDA) was signed, as well as given an opportunity to analyze comprehensive analytical reports (due diligence) on financial, tax, legal and environmental activities of the Asset prepared by the Consultant and placed in the Virtual Data Room (VDR), as well as an opportunity to meet with the management body of the Asset.
In the given timeframe 2 applicants submitted their Binding Offers (BO) and “Stroy grand servise” LLC, which offered the highest priced bid, was declared the winner of the sales, subject to the payment of the purchase price in the amount of 26 billion UZS. Exercising the right provided under Article 31 of the Law “On Privatization of State Property”, the Buyer undertakes to make an initial payment of 50% of the purchase amount within one month.
In addition, the Buyer undertakes to maintain the core business of the Asset for a period of at least 10 years, The Buyer undertakes to comply with the requirements of the Ministry of Geology and Mining Industry of the Republic of Uzbekistan in matters related to the operation of the Asset.
In addition to the purchase price, the Buyer undertakes to invest USD 20.0 million in the development of the Asset during 2025–2030, increase coal production to at least 400,000 tonnes per year by 2030, and create at least 300 additional jobs while maintaining existing employment levels.
It should be noted that the Buyer's offer is located in the upper part of the indicative price range calculated by the Consultant and exceeds the estimated value of the Asset.
The result of the Asset privatization was approved by the relevant decision of the State Commission for privatization of state assets and coordination privatization processes.
UzSAMA expresses its gratitude to all parties involved in this privatization process, and informs that the Consultant will send individual notifications to the bidders who participated in the final stage regarding the results of this stage.